The Incentive Research Foundation Releases Report on Mitigating Risk in Meetings and Incentives
Washington, DC (PRWEB) July 21, 2017 -- The Incentive Research Foundation is pleased to release the white paper "Mitigating Risk in Modern Meetings and Incentives," an analysis of critical findings reported in the "2016 Event Disruption Study." The white paper explores disruption mitigation strategies for meetings and incentives and provides insights on how partners prepare for and handle disruptions.
Meeting planners reported that disruptive incidents, happening with increasing frequency, include many weather-related phenomena, public enemies such as wars and terrorism, the business partner’s mistakes, and the client’s lack of cooperation. Planners estimated they now spend up to 25% of their time planning for potential disruptions, and nearly 40% of the planners expect that their time and effort to plan for disruptions will increase somewhat in the next two years.
“The '2016 Event Disruption Study' demonstrates that disruptions are very real part of doing business in the meeting and incentives industry,” said Melissa Van Dyke, IRF President. “With the white paper 'Mitigating Risk in Modern Meetings and Incentives,' we’ve highlighted the research and actionable insights that meeting planners and their partners can use to plan for and respond to disruptions.”
The "2016 Event Disruption Study" was completed in 2016 by University of South Carolina professors Dr. Haemoon Oh, Ph.D, and Dr. Miyoung Jeong, Ph.D. There were 18 interviews and 266 electronic responses. Event planners were surveyed on all events they had planned in 2015 and 2016.
Critical findings on risk mitigation measures discussed in "Mitigating Risk in Modern Meetings and Incentives" focus on effective planning, lessons learned during disruptions, and the importance of vendor trust and cooperation. Insights addressed in the white paper include:
• Over 90% of planners said their companies require contingency plans – with 54% requiring them for all events and 37% for some of their events
• Planners’ confidence level about planning for disruptions is 79%
• Almost half the planners (49%) have switched at least one business partner due to the partner’s poor handling of disruptions
• Nearly 70% of planning companies provide guidelines or assistance for planning for disruptions
• The Internet is the most frequently used resource for when planning for disruptions
• Nearly half (49%) of planning companies or planners actively communicate to their attendees about potential disruption situations and suggested action
• The destination has been changed at least once by 68% of planners because of perceived risks or disruptions
• Roughly 70% of planners required waivers for either both the attendee and guest together (34%) or the attendee and guest separate (34%)
• When a disruption occurred, 57% of planners either agreed or strongly agreed with the partner’s readiness or capacity to handle disruptions
• Planners listed strong relationships and cooperation with vendor partners as the most needed resource for disruption planning
• When evaluating what built trust within the vendor partner relationship, a vendor partner’s cooperative behavior had strongest impact (64%)
To view the white paper, please visit http://theirf.org/research/mitigating-risk-in-modern-meetings-and-incentives/2211/.
To view the full study, please visit http://theirf.org/research/2016-event-disruption-study/2134/
About the IRF:
The Incentive Research Foundation (TheIRF.org) funds and promotes research to advance the science and enhance the awareness and appropriate application of motivation and incentives in business and industry globally. The goal is to increase the understanding, effective use, and resultant benefits of incentives to businesses that currently use incentives and others interested in improved performance.
Andy Schwarz, The Incentive Research Foundation, http://www.TheIRF.org, +1 703.651.8189, [email protected]
Share this article